Despite the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) tumbling almost 1% on Friday, it didn't stop a number of shares from climbing to 52-week highs.
Below are three which caught my eye. Can they climb higher from here?
The AIR N.Z. FPO NZX (ASX: AIZ) share price soared to a 52-week high of $3.29 last week. This means its shares have now gained an incredible 56% since the turn of the year. Low oil prices and improved ticket prices appears to have resulted in a rerating of airline shares. The shares of rival airline Qantas Airways Limited (ASX: QAN) are not far from their 52-week high as well, thanks to a 73% gain year-to-date. Despite its larger gain, I'd still buy Qantas ahead of Air New Zealand.
The Equus Mining Ltd (ASX: EQE) share price rocketed to a 52-week high of 5.3 cents despite there being no news out of the company since the middle of June. In fact, last week's 52% weekly gain led to the ASX issuing the miner with a please explain. The second in as many weeks. Once again, management pointed to the drilling result at its Los Domos Gold-Silver Project in Chile as being the most likely reason for the interest in its shares. While early indications point to there being a significant resource underground, I still feel it is a little early to invest.
The Updater Inc (ASX: UPD) share price hit another new high of $1.00 on Friday. Investors have been piling in following strong results from the US-based company's pilot program to prove the value of its software platform for full-service moving companies. In light of this, management believes the company is uniquely positioned to reinvent the process of booking and scheduling a full-service moving company. With US$9 billion spent each year on local and interstate moving services in the United States, Updater certainly could be worth taking a closer look at today.
